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On property flipping

silvertiger · 24 · 7754

silvertiger

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on: Apr 25, 2009, 08:22 PM
I have a question on flipping properties.  The impression I got kasi from reading some articles about it, virtually no d/p ang nagagawa nung iba (eg trace trajano). I wonder how to do that sa philippine setting.

Also, pag flipping ba ang ginawa ko, does that mean I already have a buyer to flip the property to, bago ko "bilhin"?  Pag ganito pano ko mape present yung property sa potential buyer ko since hindi ko pa nabibili (eh di iba bypass na lang nya ako in the process pag nalaman nyang
di ko pa nabibili talaga, d b?)

Or dapat nakabili na ako ng property, nag down at naghuhulog nako sa bangko, and that's when I can look for a buyer and present the property?

thanks.
« Last Edit: Aug 10, 2009, 04:33 PM by FutureGizmo »


sneaker23

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Reply #1 on: Apr 25, 2009, 08:33 PM

I have a question on flipping properties.  The impression I got kasi from reading some articles about it, virtually no d/p ang nagagawa nung iba (eg trace trajano). I wonder how to do that sa philippine setting.

Also, pag flipping ba ang ginawa ko, does that mean I already have a buyer to flip the property to, bago ko "bilhin"?  Pag ganito pano ko mape present yung property sa potential buyer ko since hindi ko pa nabibili (eh di iba bypass na lang nya ako in the process pag nalaman nyang
di ko pa nabibili talaga, d b?)

Or dapat nakabili na ako ng property, nag down at naghuhulog nako sa bangko, and that's when I can look for a buyer and present the property?

thanks.


let me share what I understand but maraming experts here who can explain better and are doing it.

Quote
I have a question on flipping properties.  The impression I got kasi from reading some articles about it, virtually no d/p ang nagagawa nung iba (eg trace trajano). I wonder how to do that sa philippine setting.


It's called Leverage. Other's call it other peoples money. Instead of you providing the funds... either the owner is financing the property itself, the banks and other sources of funds. Virtually no downpayment on your end but you got the deal that you acquire the property via specialize contract.


Quote
Also, pag flipping ba ang ginawa ko, does that mean I already have a buyer to flip the property to, bago ko "bilhin"?  Pag ganito pano ko mape present yung property sa potential buyer ko since hindi ko pa nabibili (eh di iba bypass na lang nya ako in the process pag nalaman nyang
di ko pa nabibili talaga, d b?)


Either meron or wala pang buyer, you can be protected by a contract you and the seller furnish. In that way, ndi ka mashoshortcut.



Quote
Or dapat nakabili na ako ng property, nag down at naghuhulog nako sa bangko, and that's when I can look for a buyer and present the property?


You can sell even before you paid the first amortization to the bank by having that contract between you and the bank that recognize you as the owner.


pulubing_palaboy

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Reply #2 on: Apr 26, 2009, 02:11 PM
explain ko s iyo...

basically, ang premise dito ay bibili ka ng property at ipagbibili mo ng mas mahal
para mangyari iyan, karamihan ng properties na bini bili, ay yung may potential na mabili ng mas mahal. karamihan at kadalasan, siyempre meron kang gagawing improvement sa property, pero mas maliit ang gastos sa improvements kesa sa magiging value ng property pagkatapos magawa ang mga improvements. ang iba sa mga improvements, mas maigi kung ikaw mismo ang gagawa. ito ang tinatawag na "sweat equity", para bang sariling pawis ang puhunan.
halimbawa, bumili ka ng condo na 2 million. pina remodel mo. gumastos ka ng 200 thousand. tapos maipag bili mo ng more than 2.2 million para mabawi mo ang lahat ng gastos at may tubo ka pa.
ang una mong kailangan ay meron ka bang pambili? saan mo kukunin yung 2 million? meron ka na bang puhunan o meron bang magpapa utang sa iyo? kung galing sa utang, paano ang bayaran? kailangang maipag bili mo yung property bago maubos ang potential na tubo mo dahil sa interest kung uutang ka. kapag hindi nabili agad ang property, malamang na malugi ka pa.
mahirap gawin ito sa philippine setting dahil maraming imbentaryo ng properties na walang bumi bili. ang pinaka malapit na kapareho nito sa philippine setting ay yung mga namumuhunan at nagpapagawa ng mga bagong bahay. yung mga build to sell.

now let me try to show how this happens in the US setting ...
let's say you find a house on the market that needs a little work and has a potential to go up in value if some work is done on it. the majority of these properties are for the  most part known as fixer uppers.
if you go into this, you should already have the financing covered, even if you had to put a percentage as a down payment. normally, you won't have to pay on a mortgage for about 45 days. as soon as you sign the papers and get the keys, you get all the work done in as little time as possible, then put the property up for sale, and hopefully sell it at a profit BEFORE you even have to make your first mortgage payment.
simple? it's really NOT as simple as that. you have to know the market. you have to be well versed with construction and costs associated with repairs and upgrades. and you have to have dependable contractors that will get the job done in time and within budget.

sana naka tulong :)


moneyyoda

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Reply #3 on: Apr 30, 2009, 09:33 PM
« Last Edit: Apr 30, 2009, 11:01 PM by moneyyoda »


pulubing_palaboy

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Reply #4 on: Apr 30, 2009, 10:44 PM
^^^ not just with properties but with any good or service
it is most important to have the market (buyers) for them
like you say, much better if you already have the commitment


silvertiger

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Reply #5 on: May 01, 2009, 09:45 PM
Thanks guys for all the valuable inputs. Keep 'em coming for the benefit of newbies (like me) who will read this.

TO MONEYYODA,

"find the buyers first" -Is this to say that we have buyers who are looking for a certain kind of property, and then that is exactly what we look for and buy, so we can sell it to them. So inuunahan natin sila dun sa property, tama ba?

I might be getting the wrong notion, but what I'm getting is instead of referring a property to them (like what brokers do for a commission/referral fee), we "buy" the property first, before we pass it to them.  Ang tanong ko lang, kung yan nga yung ibig sabihin nyan, hindi ba malalaman din nung potential buyer natin na humahanap tayo ng property para maipasa sa kanya na may patong na ng profit natin?

May kilala kasi akong buyer ng real estate properties, so pwede ko ito subukan gawin. Ang kaso, hindi ko alam paano ko sasabihin sa kanya na hinahanap ko pa lang yung property na kailangan nya, tapos pag nahanap ko na, eh sa akin din nya kelangan bilhin na may profit na. Eto ba yung challenge part nito?

Also, are you trace trajano?  :D


moneyyoda

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Reply #6 on: May 02, 2009, 08:34 PM


RealEstateInvestor

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Reply #7 on: May 05, 2009, 03:46 AM

nice to see you here trace  :hello:


moneyyoda

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Reply #8 on: May 06, 2009, 10:36 PM
Glad to see you here too !


ph_investor

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Reply #9 on: May 07, 2009, 12:17 PM


pulubing_palaboy

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Reply #10 on: May 07, 2009, 12:37 PM
^^^ i'm sure it can be done; i agree with you
but mahirap nga lang
at sa tingin ko, mas maigi kung meron kang pang finance and won't have to rely on trying to get a mortgage and have to dispose of the property before mortgage payments start


WholesaleKid

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Reply #11 on: Aug 09, 2009, 06:12 PM
Siguro pede ka pong gumamit ng LEASE OPTION ....you sign a lease option with the seller for 1 month...IN 1 MONTH the seller can't sell their properties to other...  


chellaconico

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Reply #12 on: Sep 22, 2009, 01:52 PM
My mentor on Real Estate - Trace Trajano has a audio CD "How to Acquire your First Deal" - which he wants to give out for FREE. In this CD, Trace interviewed 2 of his students who recently acquired and completed their very first deals in a webinar (online seminar).

How to get it?

By simply signing up in his website http://www.buyfirstdeal.com, every member will get the CD if by September 30, there are 1,000 signed-up members in the site. Sign up now, and invite all your friends so we can all listen to the inspiring stories on how to acquire investment properties.

SIGN UP NOW! http://www.buyfirstdeal.com


giuli

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Reply #13 on: Sep 24, 2009, 10:23 PM
I saw a show on the Lifestyle Network called "Flipping Out". That's where I first learned about the concept, and I didn't even know that the concept was in fact called flipping. It's very informative, and it inspired me to get into real estate investing although I haven't really gotten full-on into it.


nicomambo

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Reply #14 on: Oct 02, 2011, 08:45 PM
Reviving this thread.

This is my first time to buy a fixer upper property for flipping.

Question lang sa paperworks/transfer of title: Can I keep the title under the original sellers name until I find a buyer? Or do I have to transfer it to my name immediately? Ayaw ko kasi ma-doble cap gains, etc.

Option ko din kasi to wait around a year before selling para kumita din sa rental before selling?


 


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